From Edison to Einstein, New Jersey has long been at the forefront of scientific discovery. And with tomorrow’s breakthroughs just around the corner, our commitment to supporting innovation is stronger than ever.
Many of the scientific breakthroughs that shaped our world happened right here in New Jersey. That tradition of innovation continues today. As Life Science and Technology companies race to meet the demands of the marketplace, many companies are finding great success in New Jersey like Genta Inc., Elusys Therapeutics, Inc., LifeCell Corporation, Amicus Therapeutics, myLEADERBOARD, Inc., TheraGen Pharmaceuticals and ECI Technology, Inc.
- The state has the highest concentration of Professionals in science-related fields.
- New Jersey’s rank of seventh in the nation in the number of Ph.D. scientists and engineers per 1,000 workers reflects the state’s thriving intellectual community.
- New Jersey ranks third in bioscience venture capital investments and fourth in the number of bioscience patents, reflecting a spending level of $1.3 billion.
- NJ is among the Top 10 states for the attainment of Bachelor Degrees in the population ages 25-44. (“Enterprising States,” report from the U.S. Chamber of Commerce and the National Chamber Foundation, May 2010.)
- The number of employees at NJ biotechnology companies increased 50% to 15,000 over the past three years, according to a survey from BioNJ and Ernst & Young. The survey did not include Big Pharma or medical device companies; approximately one-third of the respondents have been in business for 5 years or less. (Survey released July 2010.)
Every business has different needs. To best meet your unique needs, New Jersey has a wide range of financial and technical support programs available including:
- The Edison Innovation Fund, which provides an integrated set of resources to support life science and technology initiatives throughout the stages of discovery, development and commercialization. The Fund was designed for companies involved with developing renewable energy solutions, medical devices, healthcare, information technology, stem cell research, nanotechnology, and telecommunications.
The fund includes programs such as:
- Equity-like financing through the R&D funds
- Financing and direct equity investments
- Access to venture capital, world class technology centers and incubator networks
- Innovation Zones are New Jersey’s technology neighborhoods that are designed to spur collaborative efforts and encourage the rapid transfer of discoveries from the lab to the marketplace.
- Incentive grants for job growth for businesses that expand or relocate in New Jersey.
- A wide range of workforce training grants for employees and employers.
For more information about New Jersey's advantages, site selection services or for a customized proposal of New Jersey's financial and incentive programs, call 1-866-534-7789.